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Ruling 2002-62 More than one IRA account

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Byki286

L1: Ruling 2002-62 More than one IRA accountI have three IRA accounts with three different Firms. All of which I have been receiving SEPP since 1998 using method 2. Can I make the change to the mimimun distribution method on just one account or must I make the change on all accounts. I set up these separate accounts with the idea that if I needed to make a change I could do it on an account basis, thus not being penalized on my entire retirement fund.2002-10-15 21:29, By: ki286, IP: [127.0.0.1]
L2: Ruling 2002-62 More than one IRA accountIf your plans were established as three entirely separate plans, then you should be able to convert only one.
The fact that the funds are maintained by three different firms doesn’t necessarily make them three different plans. If all three plans were established on the same date and using the same assumptions, you may have a hard time proving (if audited)that the plans were separate and not just one plan funded in three places.2002-10-16 04:44, By: Gfw, IP: [127.0.0.1]

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